The official unemployment rate in the U.S. dropped to 7.8% in September from 8.1% in August and President Barack Obama has used the statistic to say his economic policies are working.
The latest jobs report has proved to be very controversial though. Former General Electric CEO Jack Welch and others have accused the Bureau of Labor Statistics of cooking the books. Investor’s Business Daily did a thoughtful analysis of the jobs report. I highly recommend reading it.
On Friday, I observed firsthand that the Obama presidency has created jobs. I counted about a dozen vendors selling Obama buttons, posters, T-shirts and hats outside one of his speaking engagements.
One vendor selling buttons said they were made by hippies in the U.S.A. Elsewhere, an artist was selling signed copies of his Obama prints. These products featured the usual iconic Obama imagery – that of a cool fellow, a transformative political figure and symbol of hope and change.
A cottage industry has sprung up around Obama to sell trinkets that seek to influence and sustain his legacy. That industry was on full display Friday at George Mason University in Fairfax, Va., where Obama was speaking.
Unfortunately those jobs making and selling Obama paraphernalia will be lost if he doesn’t get re-elected next month.
Photos: Vendors selling Obama trinkets at George Mason University in Fairfax, Va., on Oct. 5.